Connecticut governor proposes scrapping business taxes

Connecticut Governor Dannel Malloy on Friday proposed cutting planned business taxes by $223.7 million over two years after several large corporations threatened to leave the state. Connecticut's state legislature passed a $40 billion biannual budget last week that hiked taxes by $1.2 billion over the next two years, prompting a backlash from businesses including General Electric Co, Travelers Companies Inc and Aetna Inc. Aetna and GE, both of which have headquarters in the state, have said they would consider leaving Connecticut.

Connecticut governor proposes scrapping business taxes source: http://finance.yahoo.com/news/connecticut-governor-proposes-scrapping-business-163212524.html